News & Press Releases

 

Velocity Credit Union Awards $2,500 To Grand Opening Contest Winner,Donates $2,000 To Austin Dog Alliance

August 11, 2016

Read More


Alicia Nelson of Cedar Park received a $2,500 award from Velocity Credit Union on Aug. 10. The prize came at the end of a month-long celebration marking the opening of Velocity’s newest branch, at 1230 E. New Hope Road in Cedar Park. Nelson’s name was randomly selected from more than 500 entries.

In addition to the $2,500 prize, Velocity raised $2,000 for Austin Dog Alliance, a charitable Cedar Park organization that improves the lives of veterans, students and senior citizens through the powerful connection between dogs and humans. To find out more about Austin Dog Alliance, including volunteer opportunities, visit austindogalliance.org.

Velocity Credit Union is one of the largest Austin area credit unions with six branches located in Austin, Round Rock and Cedar Park. Chartered in 1947, the institution has a broad and diverse community membership. The credit union employs more than 200 people in the area, has assets of approximately $825 million and serves more than 84,000 members. To learn more about Velocity Credit Union membership, products and services, visit velocitycu.com.

 

Velocity Credit Union Celebrates New Cedar Park Branch At Grand Opening

July 20, 2016

Read More

Velocity Credit Union celebrated its newest branch, at 1230 E. New Hope Drive in Cedar Park, with a grand opening event and ribbon-cutting ceremony on July 8. The 4,000-square-foot facility is the newest to join the Velocity family, which includes outlets in Austin and Round Rock.

“It was nice to take a breath and enjoy all we’ve accomplished since breaking ground on construction last October,” said Debbie Mitchell, Velocity president and CEO. “And it was our pleasure to be so warmly welcomed by residents of this fast-growing area that we’re so excited to serve.”

The event featured staff and canines from the Austin Dog Alliance, a group which improves the lives of families and individuals through therapeutic programs for humans and dogs. The organization has a facility just down the road from the credit union and Velocity is running a promotion through July 30 which will culminate in a monetary donation to the charity. The same promotion features a $2,500, no-purchase-necessary giveaway. Velocity members and others can simply visit the New Hope branch and drop a token into a box to enter (the winner will be determined by random drawing on Aug. 3; contest rules are available at the branch).

To complement the canine theme, KXAN chief weathercaster Jim Spencer visited with guests and posed for photos with station mascot Kaxan, a charming pooch with more than 1,500 followers on Twitter. Local government officials provided the blue ribbon as well as the giant scissors Mitchell used to cut it, officially christening the branch.

The facility features two new ATMs and three drive-thru lanes. The comfortable and user-friendly interior sports a contemporary look and open concept highlighted by stand-up “dialog towers” (or pods) that provide branch employees the opportunity to offer personalized service to current and new members, who enjoyed treats and the branch’s complimentary coffee station.

The lobby at Velocity’s New Hope branch is open from 9am-6pm Monday through Friday and 9am-2pm Saturday. Drive-through hours are 7:30am-6pm Monday-Friday and 9am-2pm Saturday. The credit union may be accessed from either 183-A or New Hope Drive.

Velocity Credit Union is one of the largest Austin area credit unions with six branches located in Austin, Round Rock and Cedar Park. Chartered in 1947, the institution has a broad and diverse community membership. The credit union employs more than 200 people in the area, has assets of approximately $825 million and serves more than 84,000 members. To learn more about Velocity Credit Union membership, products and services, visit www.velocitycu.com.

 

Velocity Credit Union’s newest branch is now open in Cedar Park.

June 21, 2016

Read More

Located at 1230 E. New Hope Drive, just south of the Cedar Park Center off of 183-A, the facility joins Velocity Credit Union’s other branches in Austin and Round Rock in service to folks looking for a professional and friendly respite from impersonal “banking as usual.”

To celebrate the grand opening, those who visit the New Hope branch through July 30 can enter a no-purchase-necessary drawing for $2,500 (the winner will be determined by random drawing on Aug. 3; contest rules available in branch).

A formal grand opening celebration, slated for July 8 from 10am-2pm, will feature members of the Cedar Park Chamber of Commerce, summertime treats (including Kona Ice, and Me and the Bees Lemonade) and lots of giveaways. KXAN chief weathercaster Jim Spencer will be there with TV dog Kaxan, and the credit union will be making a donation to Cedar Park’s Austin Dog Alliance.

Velocity broke ground on the facility in October 2015 with the goal of offering convenience to residents of the burgeoning area, according to Debbie Mitchell, Velocity president and CEO.

"We are thrilled with the completion of our New Hope branch and happy to be a part of the Cedar Park community,” Mitchell said. “We can’t wait to get to know more folks in the Cedar Park/Leander area.”

The 4,000-square-foot facility features two new ATMs and three drive-thru lanes. The comfortable and user-friendly interior sports a contemporary look and open concept highlighted by stand-up “dialog towers” (or pods) that provide branch employees the opportunity to offer more personalized service to members. There will also be a tech bar and a coffee station for members to enjoy.

The lobby at Velocity’s New Hope branch is open between 9am-6pm Monday through Friday and 9am-2pm Saturday. Drive-through hours are 7:30am-6pm Monday-Friday and 9am-2pm Saturday. The credit union may be accessed from either 183-A or New Hope Drive.

Velocity Credit Union is one of the largest Austin area credit unions with branches located in Austin, Round Rock and Cedar Park. Chartered in 1947, the institution has a broad and diverse community membership. The credit union employs more than 200 people in the area, has assets of approximately $825 million and serves more than 84,000 members. To learn more about Velocity Credit Union membership, products and services, visit www.velocitycu.com.

 

Velocity Credit Union Makes Donation to Children's Charity Wonders and Worries

June 20, 2016

Read More

Velocity Credit Union has donated $2,392 to Wonders and Worries, a small nonprofit running on donations and volunteer effort that helps children cope when a parent faces a serious or life-threatening illness. The organization receives no federal or state money.

The funds were collected through Velocity’s Youth Saving Challenge, an annual program which helps to teach children about the benefits of saving. Each spring, children who are members of Velocity Credit Union’s Youth Club are encouraged to save and, at the campaign’s conclusion, donations are made to a different youth-oriented charity based upon the amount of dollars deposited into their accounts.

“We like to think of it as children helping children,” said Gary Hampton Jr., Velocity Credit Union’s community relations specialist.

More information about Wonders and Worries – including upcoming events and volunteer opportunities -- can be found on the organization’s website, wondersandworries.org. For more details on Velocity’s Youth Club, visit velocity.com/youthclub.

Velocity Credit Union is one of the largest Austin area credit unions with branches located in Austin, Round Rock and Cedar Park. Chartered in 1947, the institution has a broad and diverse community membership. The credit union employs more than 200 people in the area, has assets of approximately $825 million and serves more than 84,000 members. To learn more about Velocity Credit Union's products and services, visit www.velocitycu.com.

 

Velocity Credit Union Awards Scholarships To Graduating Area Seniors

June 20, 2016

Read More

Velocity Credit Union awarded a total of $11,250 in scholarships to eight Austin-area students pursuing their educations at the 23rd Annual Velocity Credit Union Scholarship Awards. Four scholarships were presented to high school graduating seniors beginning their college education, and another four were presented to past winners who are currently in college. Over the life of the program, the credit union has awarded 136 scholarships totaling more than $170,000.

This year, the recipient of the Royal G. Wilson Memorial Scholarship was Sofia Ramirez, a graduate of Akins High School who will begin studying engineering at Lehigh University in Bethlehem, Penn. this fall. Nzubechi Uzuegbunam, who graduated from Manor High School, received the Tom Eaton Memorial Scholarship. Uzuegbunam is planning to study biology at Texas A&M University.

This year, two graduating seniors were awarded the Limuel Hunter Memorial Scholarship: Bailey Penberg, who graduated from Cedar Park High School and enters pre-veterinary studies at Texas State University this fall; and Lehman High School graduate Jonathan Sheckler, who will study manufacturing engineering at ACC/Coastal Bend College.

Velocity’s Board of Directors also awards the Robert Wilder Memorial Scholarship to assist past winners in continuing their education. This year, four scholarships were awarded to the following previous winners: Thomas Massad from Georgetown University in Washington, D.C.; Jorge Reynoso, who attends Denison University in Ohio; Gabriel Borg from the University of Texas; and Summer Stark, who attends the University of North Texas.

“This scholarship program has been a proud tradition of Velocity for 23 years. This year’s recipients represent the best of Texas youth and we are thrilled to be able to help them pursue their educational goals,” said Debbie Mitchell, president and CEO.

Velocity Credit Union is one of the largest Austin area credit unions with branches located in Austin, Round Rock and Cedar Park. Chartered in 1947, the institution has a broad and diverse community membership. The credit union employs 195 people in the area, has assets of approximately $770 million and serves more than 75,000 members. To learn more about Velocity Credit Union membership, products and services, visit www.velocitycu.com.

 

Velocity Credit Union Breaks Ground on New Branch in Cedar Park

October 27th, 2015

Read More

Velocity Credit Union recently broke ground on their new branch in Cedar Park. Velocity's newest location will open in early 2016 and will be located on the corner of Highway 183-A and New Hope Drive.

 

"The Cedar Park area has exploded with growth in recent years, and we want to be convenient to our members in that burgeoning area," said Debbie Mitchell, Velocity president and CEO. "We are excited about introducing an updated business model to our members, as well as the Cedar Park population in general."

 

The New Hope branch is slated to be approximately 4,000 square feet with two ATMs and three drive-thru lanes. The branch will have access from both 183-A and New Hope Drive. The new interior design will feature a contemporary look and open concept including "dialog towers"

(or pods) that are more adaptable for various member needs, along with a tech bar, flexible meeting space and more innovative ATMs.

 

Velocity Credit Union is one of the largest Austin area credit unions with branches located in Austin and Round Rock. Chartered in 1947, the credit union has a broad and diverse community membership. The credit union employs 195 people in the area, has assets of approximately $770 million and serves more than 75,000 members. To learn more about Velocity Credit Union's products and services, visit www.velocitycu.com.

 

Velocity Credit Union holds 22nd Annual Scholarship Reception

June 12th, 2015

Read More

Velocity Credit Union recently awarded more than $12,000 to 12 Austin-area high school graduates and college students pursuing a higher education. Over the past 22 years, the credit union has awarded more than $160,000 to 124 scholarship recipients.

The three high school graduates, who each received a $2,000 scholarship, were Summer Stark, a graduate of Bowie High School, who will attend the University of North Texas; Valentina Tovar, an Akins High School graduate, will attend Texas A&M University; and Gabriel Borg, a graduate of Dripping Springs High School, who plans to attend the University of Texas at Austin.

"These are all outstanding people and we know they are on their way to happy and successful futures," said Debbie Mitchell, president/CEO, Velocity Credit Union.

In addition, the credit union awarded nine "ongoing" scholarships to help previous winners continue their college education. These scholarships were awarded to Kinzie Milare and Victoria Andrews, both from Texas Tech University; Alex Jaycox, who attends Texas State University; Maria Tovar from Texas A&M University; Thomas Massad, who attends Georgetown University in Washington, D.C.; Ariel Frazier of Lehigh University in Pennsylvania; Ricci Bostick, who attends Hampton University in Virginia; Jorge Reynoso from Denison University in Ohio; and Zach Santos, who attends the University of Texas in Austin.

Velocity Credit Union is one of the largest Austin area's credit unions with five branches located in Austin and Round Rock. Chartered in 1947, the credit union serves a diverse field of membership that includes anyone in the five-county area, as well as dozens of select employer groups and associations. The credit union employs approximately 185 people in the area, has assets of approximately $770 million and serves more than 75,000 members. To learn more about Velocity Credit Union's products and services, please visit www.velocitycu.com.

 

Velocity Credit Union Receives Diamond Award

April 1st, 2015

Read More

 

Velocity Credit Union in Austin, Texas, was recently honored with two Diamond Awards, which recognize outstanding marketing and business development achievements in the credit union industry.

 

The awards were presented by the Credit Union National Association (CUNA) Marketing & Business Development Council, a national network comprised of over 1,200 credit union marketing and business development professionals.

 

Velocity Credit Union won in the Complete Campaign category for their entry. The campaign included billboards, web banner ads and TV spots with the theme of "Not All Credit Cards are Created Evil."

 

"With so many different credit cards on the market, and everyone from barbarians to Samuel L. Jackson touting credit cards, we found a smart, straight forward approach to promoting our card, which is good and not evil," said Carol Cain, vice president, marketing, Velocity Credit Union.

 

Velocity Credit Union also won in the card design category for the redesign of their ATM/debit cards. "This time around we included a card with a beautiful shot of downtown Austin at twilight.  Being a local Austin credit union and because of our roots with the City, we thought it was high time we had Austin on our cards," said Kent Sheckler, marketing manager, Velocity Credit Union.

 

"The Diamond Award competition is the most prestigious competition for excellence in marketing and business development in the credit union industry," said Michelle Hunter, chair of the CUNA Marketing & Business Development Council.  Award winners were recognized at the council's 22nd annual conference held March 25-28 in Las Vegas.

 

Velocity Credit Union is one of the Austin area's largest credit unions with branches located in Austin and Round Rock. Chartered in 1947, the credit union serves a diverse field of membership that includes anyone in the five-county area, as well as dozens of select employer groups. The credit union employs approximately 190 people in the area, has assets of approximately $745 million and serves more than 78,000 members.  To join or learn more about Velocity Credit Union, please visit www.velocitycu.com.

 

Certificate Rates Up for a Limited Time

June 25th, 2014

Read More

Velocity Credit Union is offering new rates for their 2- and 3-year share certificates (the credit union term for CD).  The promo rates are 1.10% APY* for 2-year certificates and 1.31% APY for 3-year certificates.

The certificates, which are currently available through June 30, 2014, have a minimum $5,000 deposit requirement and exclude IRA and Roth IRA certificates. For more information, call 512-469-7000 or visit velocitycu.com/promo.

Velocity Credit Union is one of the Austin area's largest credit unions with five branches located in Austin and Round Rock. Chartered in 1947, the credit union serves a diverse field of membership that includes anyone in the five-county area, as well as dozens of select employer groups and associations. The credit union employs approximately 185 people in the area, has assets of approximately $680 million and serves more than 75,000 members.

* Percentage Yield. Elite Reward rates do not apply. Offer good through July 5, 2014. Dividends compounded and paid quarterly. Penalty for early withdrawal.

 

Velocity Credit Union Holds Scholarship Reception

June 23rd, 2014

Read More

At this year's 21st annual scholarship reception, Velocity Credit Union awarded more than $13,000 to 11 local-area high school graduates and college students pursuing higher education. ­To date, the credit union has awarded 113 scholarships totaling more than $148,000.

The four high school graduates who each received a $2,000 scholarship were Kinzie Milare, a graduate of Cedar Ridge High School, who will attend Texas Tech University in the fall; Jorge Reynoso, a Crockett High School graduate, who plans to attend Texas A&M University; Zach Santos, a graduate of Round Rock High School, attending the University of Texas; and Jesus Aldape, Jr., Akins High School graduate, who will also head to Texas A&M.

"Each year, we are so impressed with the academic excellence and community involvement of so many of our young members. This year, the top candidates were so exceptional that the board of directors added an additional award," said Debbie Mitchell, president/CEO, Velocity Credit Union. 

In addition, Velocity awarded seven "ongoing" scholarships to help previous winners continue their college education. These scholarships were awarded to Laura Longnecker and Maria Tovar, both from Texas A&M; Jasmine Washington, who attends the University of Texas; Ariel Frazier from Lehigh University in Pennsylvania; Victoria Andrews, who attends Texas Tech University; Ricci Bostick of Hampton University in Virginia; and Thomas Massad, who attends Georgetown University in Washington, D.C.

Velocity Credit Union is one of the Austin area's largest credit unions with five branches located in Austin and Round Rock. Chartered in 1947, the credit union serves a diverse field of membership that includes anyone in the five-county area, as well as dozens of select employer groups and associations. The credit union employs approximately 185 people in the area, has assets of approximately $680 million and serves more than 75,000 members.

 

Velocity Awards Scholarships at 20th Annual Event

June 17th, 2013

Read More

 

Velocity Credit Union awarded a total of $11,250 in scholarships to 10 Austin-area students at the 20th Annual Velocity Credit Union Scholarship Awards. ­Three scholarships were presented to recent high school graduates beginning their college education, and seven were presented to past winners who are currently in college. For the past two decades, the credit union has awarded 102 scholarships totaling more than $135,000. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

This year, the recipient of the Royal G. Wilson Memorial Scholarship was Thomas Massad, a graduate of the Liberal Arts and Science Academy who will be attending Georgetown University in Washington D.C. this fall. Ricci Bostick, who graduated from McNeil High School, received the Tom Eaton Memorial Scholarship. Bostick is planning to pursue her education at Hampton University in Virginia. The final recipient was Aaron Sheckler, who was presented with the Limuel Hunter Scholarship. Sheckler is a graduate of Lehman High School and plans to attend Angelo State University.

Velocity's board of directors also created the Robert Wilder Memorial Scholarship to assist past winners in continuing their education. This year, seven scholarships were awarded to the following previous year's winners: Cody Ramirez from St. Edwards University; Ariel Frazier-Freeman, who attends Lehigh University; Victoria Andrews from Texas Tech University; Michael Massad, who attends Carleton College; Jasmine Washington from the University of Texas; Laura Longnecker from Texas A&M; and Maria Tovar, who attends Texas A&M.

Chartered in 1947, Velocity Credit Union is a full-service financial institution that serves as a local banking alternative to residents of the five-county area around Austin. The credit union has assets of $640 million and serves more than 70,000 members.

 

Austin's Own Velocity Credit Union Launches Secure Online Chat

April 24th, 2013

Read More

Velocity Credit Union in Austin has a new feature available on its website. Credit union members can now access a secure online chat interface.

"We wanted to provide an additional resource for our customers," said Debbie Mitchell, president and CEO of Velocity Credit Union. "We realize that some people who have detailed questions about our policies and services prefer to engage online instead of in person or on the phone. Our online chat support addresses that need."

The secure online chat feature is conveniently located on the lower left corner of the Velocity home page (https://www.velocitycu.com/) website. Customers can use the interactive interface during business hours to ask questions about the credit union's loans, savings and investment programs, hours, locations, checking accounts, alerts, rates and fees. The chat messaging system also allows customers interested in electronic correspondence to leave a message while representatives are offline.

The new online feature is the latest of several elements designed to enhance customer service for credit union members. Other new services include security alerts for debit and ATM accounts, holiday loans and a new Velocity Visa card.

About Velocity Credit Union:

Velocity Credit union has been serving the Central Texas community since it was chartered in 1947. Based in Austin, it has more than 70,000 customers. Programs and services include loans, a platinum credit card, a rewards program and efficient customer service. Velocity has been named to the "Lone Stars Shining 100 Best Companies to Work for in Texas 2013" and is featured on the list of "Top Places to Work in Austin" by the Austin American-Statesman.

For more information, visit https://www.velocitycu.com/.
 

Velocity's "No-nonsense" Credit Cards are Back and Better Than Ever!

April 9th, 2013

Read More

In a continual effort to provide our members with the most essential and useful tools to meet their financial needs, Velocity Credit Union is excited to announce that our "No-nonsense" credit cards are back and better than ever! Choose from our Visa Platinum, Platinum Rewards, or savings-secured card—all of which are honored wherever Visa is accepted worldwide.

The Annual Percentage Rate for Velocity Credit Cards

Velocity has better terms than you'll find from other credit card issuers. Our Platinum Visa credit card has an introductory rate of 2.99% APR for six months––how's that for an intro rate? After the six-month period is over, enjoy our fixed interest rates as low as 7.99% APR for our Platinum credit cards.

Our Platinum Visa rewards card also has an introductory six-month rate of 2.99% APR. Although the rate increases to 9.49% APR or higher after the introductory period is over, it's considerably lower than the current industry standard of 13.02% APR. You can also take advantage of our Platinum Visa Rewards card, which boasts a stellar rewards program with no annual fee!

Receiving a First or Second Chance with Velocity Credit Union

Rest assured—we understand it can be difficult to qualify for a credit card due to a rocky credit history or as a first-time borrower. That's why Velocity also offers a savings-secured card that will help you get back on your financial feet.

Apply for a Platinum, Platinum Rewards or savings-secured card today! Visit anyone one of our convenient branches in the Austin area, call 512.469.7000 or apply online at velocitycu.com/visa.
 

Bank Online Safely

March 12th, 2013

Read More

Managing money is an important daily task for many people and with the advent of online banking, it has become significantly more convenient. In a country dominated by smart phones, computers and tablets, the ability to check your account balance, transfer money and pay bills is now, quite literally, at your fingertips.

Is Online Banking Secure?

One of the biggest concerns regarding online banking is security: Is it safe? Overall, the answer is yes. However, whether you're banking at a local branch or accessing your account through the internet, consumers should always monitor their activity carefully. To ensure the safety of your money and personal information, U.S. News offers the following tips for safe online banking:
 
  • "Don't talk to cyber-strangers, and don't click on hyperlinks within emails from strangers." This is an easy way for hackers to access your information.
  • "Treat your smartphone like the computer it is." Be careful about what you download and make sure to sign-out of online banking sites and applications.
  • "Treat social networks like dark street corners." Be careful about the information you share online and avoid suspicious links on social networking sites.
  • "Use the Net to your own advantage." Log in to your online account frequently to make sure nothing seems incorrect or suspicious.
  • "Get free help." Velocity, like many credit unions, offers tips to effectively utilize online banking.
  • "Think of a new word." Try to make your passwords and security questions less predictable.
  • "Never, ever give your Social Security number to anyone online."
  • "Shred or safely store financial mail."
  • "Fight back quickly." If you think something is amiss with your account or you suspect you have been hacked, contact your bank immediately.
  • "Trust your gut." If you have a bad feeling that something is wrong, you're probably right. Monitor you account carefully and take action quickly.


Banks and credit unions create many safeguards to protect you, but it's also important for customers to take online banking seriously and monitor things carefully.

The Many Benefits of Online Banking

Although it's still beneficial to visit an Austin credit union branch for some of your banking needs, there are many advantages to utilizing online banking. Along with convenience, the other benefits of online banking include automatic bill pay, real-time access to account information, easy money transfers and higher interest rates. With Velocity Credit Union's free and convenient eStatement access, you can have your statements sent to you electronically, erasing the hassle of filing paper statements and giving you the ability to access your statement history online at any time. Another useful tool is the free alert service, which allows you to stay on top of all your account activity, including balance alerts, notifications of checks that have cleared and debit transactions. Contact us at Velocity today to learn more about online banking, eServices and our mobile banking site. Our new smartphone App and remote deposit will be launched in the coming months! Banking is an integral part of everyday life, so why not make it as easy as possible?
 

The Time to Get 6.49% Loans is Ticking Away

January 28th, 2013

Read More

When the bills for your holiday spending arrive in your mailbox, you may discover that you spent more this season than you can afford to pay off in January. Of course, there are several options available for paying those bills. Charging items on a credit card is convenient, but you typically pay high interest fees on your entire card balance unless you can pay your account in full by the due date. Payday loans are easy to get, but you must normally repay the total balance of payday loans in Austin on your next payday, and interest rates on those loans are exceedingly high.

Velocity Credit Union in Austin has a solution that can save money for you and allow additional time to complete paying for your holiday expenses. For a limited time, Velocity is offering special, low-interest holiday loans with fixed annual percentage rates (APRs) beginning at just 6.49% with your Member Rewards discount. You can borrow from $500 to $5,000 and take up to 36 months to repay the holiday loans.

Because credit unions are not for profit and member-owned, they can offer their members the best rates on loans, savings accounts, checking accounts, and other financial products. Velocity Credit Union's community charter allows all area residents to join the credit union. Velocity can also offer membership to people who do not live in the vicinity if they are associated with one of more than 200 particular groups or associations. Becoming a member of Velocity Credit Union in Austin is as easy as opening a savings account. If you take advantage of multiple products and services, you can be eligible for the previously mentioned Member Rewards discounts on certain loans in Austin. In addition, Velocity provides a full range of other financial services like debit cards, ATM cards, online banking, mobile banking, bill paying, gift cards, business accounts, and financial counseling.

Time is quickly running out on the special holiday loan offer. You must apply for the Velocity Holiday Loans before the end of January in order to receive the special 6.49% APR interest rate. Visit any Velocity Credit Union in Austin to apply for a holiday loan, or save time by applying online or by phone.
 

Austin Humane Society Receives Donation from Velocity Credit Union

April 18th, 2012

Read More

The animals at the Austin Humane Society received a special post-holiday gift from Velocity Credit Union after they donated $6,675 to the efforts of the animal shelter, the largest no-kill and non-profit pet adoption center in Austin.

The credit union, which has been a supporter of the Austin Humane Society for several years, ran a post-holiday loan promotion from January through March and donated $5 for every approved application.

"We came up with the humane society tie-in because the promotional postcard pictured a puppy all tuckered out from the holidays," said Velocity Credit Union CEO and President Debbie Mitchell. "The donation idea was a natural." The credit union has shown its support of the Austin Humane Society through the years in the form of donations, as well as by sponsoring events benefitting the city's four-legged friends, such as the 2011 Rags to Wags Gala.

"We are so grateful here at the Austin Humane Society to have such a fabulous partnership with Velocity Credit Union," said Frances Jonon, executive director of the Austin Humane Society. "Their generous support and great dedication to our mission has saved so many lives and continues to make a lasting impact on animals in our community."

Velocity Credit Union is a full-service financial institution headquartered in Austin that remains committed to the long-established ideals of the credit union movement. It strives to provide a local alternative to banks and serves an open and diverse field of membership.

"We at Velocity are always looking for ways to tie in support for our local non-profit partners in the community and are big fans of the Austin Humane Society, both corporately and personally," said Carol Cain, Velocity's marketing vice president. "And don't forget -- if you love animals, you can bank here."

Chartered in 1947, the credit union serves members across the five-county area the credit union has assets of $560 million and serves more than 70,000 members.
 

Velocity Credit Union member wins $500 in eStatement contest

July 19th, 2011

Read More

Kristie Robles, a member of Velocity Credit Union since 1982, was the recent winner of $500 after her name was picked in a drawing of the financial institution's eStatement users. 

Robles, who joined Velocity Credit when it was known as Austin Municipal Federal Credit Union (AMFCU), was drawn from a pool of more than 18,000 eStatement users – a group who opt to receive their account statements electronically (a feature of online banking) as opposed to in the mail. 

"Whenever we go to our Velocity branch, whether to make a deposit or open a new account—like we recently did for our daughter—the staff is great to work with," Robles said. ""I'm a big fan of Velocity and their eStatements. They are the 'green' choice, plus you get less paper mail that will end up in your recycle can." 

Velocity Credit Union conducts frequent prize giveaways as incentives for members to go green and switch to receiving their monthly statements in their inbox instead of their mailbox. To date, the credit union has awarded more than $3,000 in cash and prizes to their eStatement users. Velocity's next promotion will award an iPad to one lucky winner. 

Chartered in 1947, Velocity Credit Union is a local a banking alternative open to residents of the Greater Austin area. The credit union has assets of $541million and serves more than 70,000 members.
 

Velocity Credit Union Awards Eight Local Students At 18th Annual Scholarship Ceremony

June 8th, 2011

Read More

Velocity Credit Union recently held its 18th Annual Velocity Credit Union Scholarship Awards where it presented eight scholarships to young credit union members. Three scholarships were awarded to recent high school graduates and five ongoing scholarships were awarded to past winners who are continuing their college education. Velocity Credit Union has awarded $120,000 in scholarships to date. 

The Royal G. Wilson Memorial Scholarship was awarded to Jasmine Washington, a graduate of Manor High School, who will attend the University of Texas at Austin. The Limuel Hunter Scholarship was awarded to Alexander Jaycox, a graduate of James Bowie High School, who plans to attend Texas A&M University. Laura Longnecker, a graduate of Pflugerville High School, was awarded the Tom Eaton Memorial Scholarship and she plans to attend Texas A&M University in the fall. 

The Robert Wilder Memorial Scholarships, which were created by Velocity's Board of Directors to assist current college students, were awarded to five past winners: Carlos Galvan, who attends St. Edward's University; Emily Jaso, from Sam Houston State University; Jozef Cortez, who continues at Hardin-Simmons University; Michael Massad, from Carleton College; and Katie Jaycox, who attends Northwestern University. 

"These are all amazing young people and we believe that they are on their way to making their mark in the world," said Debbie Mitchell, Velocity Credit Union president and CEO. "Their hard work and dedication is certainly commendable, and we anticipate great things from each of them in the future." 

Velocity Credit Union is a full-service financial institution headquartered in Austin that provides an alternative to banks. Chartered in 1947, the credit union serves an open and diverse field of membership across the five-county area. The credit union has assets of $541 million and serves more than 70,000 members.
 

Velocity Credit Union helps keep Central Texans cool

June 8th, 2011

Read More

Velocity Credit Union is joining efforts with Family Eldercare of Central Texas for their 21st Annual Summer Fan Drive. 

Through their partners at KXAN, the local credit union is sponsoring the fan drive and working alongside Family Eldercare in their endeavor to help keep the elderly and adults with disabilities in Central Texas cool during the summer season, a time during which the area is known to reach triple-digit temperatures. 

"We participate in a number of community fundraisers in the fall with donations to Blue Santa and the Capital Area Food Bank," said Carol Cain, senior vice president of Velocity's Marketing Department. "We were looking for a way to give back to the community during the summer months." 

Velocity is accepting new, unused fans (20" box fans or 12" or larger oscillating fans), as well as monetary donations through their online banking and at all of their branch locations. A donation of $30 helps provide two fans to an individual or a family that is in-need. Monetary donations are used to purchase fans and air conditioners that will be delivered on June 24 at Fan Fare Friday, a yearly event that features live music and is hosted by Family Eldercare at Threadgill's World Headquarters. 

Family Eldercare, an organization established in 1982 that helps provide essential services to the elderly and adults with disabilities, began the Fan Drive in 1990 to help prevent heat stroke among the elderly during the summer months and has donated 9,000 fans and 100 AC units in 2008. 

Velocity Credit Union is one of the Austin area's largest credit unions with five branches located in Austin and Round Rock. Chartered in 1947, the credit union serves a diverse field of membership that includes anyone in the five-county area, as well as dozens of select employer groups and associations. The credit union employs approximately 185 people in the area, has assets of approximately $530 million and serves over 70,000 members. 

For more information, contact: Carol Cain, Senior Vice President, Marketing, Velocity Credit Union at 512.469.7178 or carol.cain@velocitycu.com. 

For more information about the fan drive or volunteering for Family Eldercare, contact: Melissa Gray at 512-483-3582 or mgray@familyeldercare.org.
 

Velocity Credit Union Receives Diamond Award for outstanding Marketing Achievements

March 22nd, 2011

Read More

Velocity Credit Union was recently honored with a Diamond Award, which recognizes outstanding marketing and business development achievements in the credit union industry. The award was presented by the Credit Union National Association (CUNA) Marketing and Business Development Council, a national network comprised of nearly 1,000 credit union marketing and business development professionals. Awards are given in each of 33 categories ranging from advertising to community events and beyond. Velocity Credit Union won the "Diamond in the Rough" category for its entry, entitled "Bank Schmank." The campaign was comprised of guerrilla marketing tactics that promoted a microsite (www.bankschmank.com), which included videos from dissatisfied big bank customers, as well as facts and links that show the differences between credit unions and banks. Velocity was also honored with three "Awards of Merit" for their television commercials, developed by Swizzle, their agency of record, and a direct mail piece. "The Diamond Awards recognize the best-of-the-best in credit union marketing, advertising, and business development," said Anne Legg, council chair and vice president of marketing for Cabrillo Credit Union in San Diego, Calif. "It takes hard work, imagination, and perseverance to be selected as a Diamond Award winner from nearly 1,000 entries." Award winners were recognized at the council's 18th annual conference held March 16-19 in Las Vegas, NV. For more information on the Diamond Awards or to view the entire list of winners, go to www.cunamarketingcouncil.org. For more information about Velocity Credit Union, please visit www.velocitycu.com or www.bankschmank.com
 

Velocity Credit Union Awards Eight Local Students at 17th Annual Scholarship Ceremony

June 21st, 2010

Read More

Velocity Credit Union recently presented its 17th Annual Velocity Credit Union Scholarship Awards. Eight scholarships were awarded to young credit union members; three to recent high school graduates and five to past winners who are continuing in college. To date, Velocity Credit Union has awarded over $110,000 in scholarships. The Royal G. Wilson Memorial Scholarship was awarded to Jozef Cortez, a graduate of Del Valle High School, who will attend Hardin Simmons University. The Limuel Hunter Scholarship was awarded to Cody Ramirez, a graduate of Elgin High School, who plans to attend St. Edward's University. And, Michael Massad, Jr., a graduate of the Liberal Arts and Science Academy, was awarded the Tom Eaton Memorial Scholarship. Massad plans to study Environmental Science at Carleton College in Minnesota. The Robert Wilder Memorial Scholarships, to assist current college students, were awarded to five past winners: Carlos Galvan, who attends St. Edward's University; Emily Jaso, from Sam Houston State University; Courtney Passow, who continues at Texas A&M; Josh Lechler, from Baylor University; and Katie Jaycox, who attends Northwestern University. "The Velocity Scholarship Program was created by our board of directors as a way to serve the community, our members, and their families. Each year I am more and more inspired by the accomplishments and the caliber of the young people in our membership," said Debbie Mitchell, Velocity Credit Union president and CEO. Velocity Credit Union is a full service financial institution, headquartered in Austin that provides an alternative to banks. Chartered in 1947, the Credit Union serves an open and diverse field of membership across the five county area. The Credit Union has assets of $500 million and serves over 75,000 members.
 

Austin Firefighter Challenge Team Hosts Kids Challenge

April 27th, 2009

Read More

Members of the Austin Firefighters Combat Challenge Team joined Velocity Credit Union on Saturday for the Youth Savings Challenge. The firefighters set up a "Kids Challenge" course at Velocity's Braker Lane branch and invited kids to take part in kid-sized firefighter challenges. The kids were outfitted in fire helmets and ran a course with a fire hose, pounded a sled (simulating forcible entry), dragged a dummy in a "rescue," and shot a fire hose. Velocity Credit Union is sponsoring the Austin Firefighter Combat Challenge Team for 2009. The team, led by Capt. Jim Key (retired AFD) and Lt. Scott Bartell (AFD), and comprised of firefighters from around the Austin area, will compete in regional competitions as they attempt to qualify for the World's Challenge in Las Vegas this November. The Firefighter Combat Challenge annually attracts hundreds of U.S. and Canadian municipal fire departments and is expanding to countries around the world. The Challenge promotes firefighter fitness and demonstrates the profession's rigors to the public. Wearing "full bunker gear" and a breathing apparatus, competitors race head-to-head as they simulate the physical demands of real-life firefighting by performing a five-part series of tasks including running a five-story tower, hoisting, chopping, dragging hoses and rescuing a life-sized, 175 lb. "victim" as they race against themselves, their opponent and the clock. "We're honored to support this great team of firefighters from around the area. Velocity's original charter was for City of Austin employees, and a large part of that group is our firefighters and police officers," said Debbie Mitchell, president/CEO, Velocity Credit Union. Velocity Credit Union is a full service financial institution headquartered in Austin, Texas. Chartered in 1947, the Credit Union serves a diverse field of membership that includes dozens of select employer groups and associations, along with a five county community service area. The Credit Union has assets of approximately $485 million and serves over 75,000 members.
 

Velocity Credit Union appoints Debbie Mitchell new CEO

January 8th, 2009

Read More

Debbie Mitchell, president of Velocity Credit Union, was appointed CEO by a unanimous vote of Velocity’s board of directors in a meeting held December 23, 2008. Her new title, CEO/President, effective January 1, comes in the wake of the November 2008 passing of Larry Strong, former CEO. Mitchell, who has a 23-year history with Velocity, was named president of the 60-year old institution in 2007. “Velocity’s board of directors has every confidence that Debbie Mitchell is the right person to lead Velocity in today’s environment. She’s wise, passionate and a broad thinker,” said Carl Lynch, chairman of the board. “Debbie has directed the operation of this credit union for the past five years and has already proven herself to be a strong leader, who has built an exceptional management team.” Prior to her appointment as president, Mitchell served as Chief Operating Officer and led the credit union through a re-naming/rebranding campaign, culture change and major branch expansion in 2003-2005. Founded in 1947, Velocity was once known as Austin Metropolitan Financial Credit Union and primarily served city employees. Today Velocity serves the Austin metropolitan five-county area and has $476 million in assets, 200 employees and more than 84,000 members. Though Mitchell takes on her newest challenge in the highly competitive Austin market and in a relatively uncertain economy, she is confident and optimistic about the future. “Velocity Credit Union is solid and strong, with a healthy balance sheet, an experienced management team and dedicated employees. Velocity did not get involved in any way with the subprime mortgages that we heard so much about,” Mitchell said. “Our focus is on providing our members a safe, sound and secure financial institution --- not sky-rocketing profits for stockholders that often involve high risk. We offer a variety of deposit and investment accounts, and continue to make sensible loans to our members using sound lending practices, as we have for over 60 years. “I am honored and humbled by this new challenge and look forward to serving the members and employees of Velocity Credit Union for many years to come,” said Mitchell.
 

Velocity Credit Union CEO Larry Strong dies at 61

November 25th, 2008

Read More

For immediate release Larry Strong, longtime CEO of Velocity Credit Union in Austin died unexpectedly on Sunday evening. Services will be held at 10 a.m. on Wednesday, Nov. 26, at the Harrell Funeral Home, 4435 Frontier Trail, Austin, with burial to follow in the Fitzhugh Cemetery. Strong served at Velocity Credit Union (formerly AMFCU) for more than 30 years, taking on the role of president and CEO in 1988. In 2003, under Strong’s leadership, the credit union – one of Austin’s oldest - changed its name to Velocity Credit Union. Strong acknowledged changing the name of a 55-year old institution wasn’t easily done, but the management team knew it was time for a change. “Our determination to grow and adapt with the times is what has made us strong,” Strong said. “The name 'Velocity Credit Union' speaks to our new energy, our forward momentum and a renewed commitment to helping our members reach financial success." During that same period, the credit union had expanded its membership charter to include the five counties in and around Austin. The credit union membership and assets grew to its present size of $470 million and over 84,000 members. In January of 2008, Strong stepped down as president, but maintained a visible and active role as CEO and a member of the board of directors of the 60-year-old Austin institution. Debbie Mitchell, former COO and longtime protégé of Strong, was appointed president. Strong took great pride in his service at the credit union and created a real family atmosphere among the employees, whom he offered referred to as his “children.” He was a maverick in the truest sense of the word, and was a real leader in the credit union movement. Larry Strong was a rare breed and will not be soon forgotten. Strong is survived by his wife Vicki Puryear Strong; his two daughters, Shannon Strong and Lorie Strong-Baez ; her husband, John Baez; three grandsons, Garrett, Ryan and Jacob Baez; his brother and sister-in law Charles and Ginny Strong and his mother-in-law, Alice Mae Perkins. He was preceded in death by his parents, Lester and Betty Strong.
 

Velocity Credit Union recognized as one of the Best Companies to Work for in Texas

November 14th, 2008

Read More

Velocity Credit Union was recently named one of the Best Companies to Work for in Texas 2009. The awards program, created in 2006, is a project of TEXAS MONTHLY, the Texas Association of Business (TAB), the Texas State Council of the Society for Human Resource Management (TSC-SHRM) and Best Companies Group. This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Texas – those that benefit the state's economy, its workforce and businesses. The Best Companies to Work for in Texas 2009 list is made up of 100 companies. Companies from across the state entered the two-part process to determine the Best Companies to Work for in Texas. The first part (worth approximately 25% of the total evaluation) consisted of evaluating each nominated company's workplace policies, practices, and demographics. The second part (worth the remaining 75%) consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. “Our goal is to be the employer of choice in the Austin community. We constantly search for ways to offer the best benefits for our employees; to ensure this is a place they enjoy spending their time; and to provide them a good work/life balance. Our outstanding management team devotes a great deal of time to make sure that Velocity a great place to work. It is gratifying to know that the other Velocity team members benefit from those efforts and appreciate them,” said Debbie Mitchell, Velocity Credit Union president. “For Velocity to be recognized among the best 100 employers in the State of Texas is truly an honor and something that we are extremely proud of. Our vice president of HR is to be commended for putting all the pieces together for our entry and for our success,” Mitchell said. Velocity Credit Union will be recognized at the Best Companies to Work for in Texas awards ceremony on Wednesday, January 28, 2009 at the Texas Association of Business 2009 Annual Conference. The final rankings will be announced at the luncheon. Velocity Credit Union is one of the Austin area’s largest Credit Unions with five branches located in Austin and Round Rock. Chartered in 1947, the Credit Union serves a diverse field of membership that includes anyone who lives, works or worships in the five-county area, as well as dozens of select employer groups and associations. The Credit Union employs approximately 185 people in the area, has assets of approximately $470 million and serves over 80,000 members.
 

Velocity Credit Union Awards Nine Local Students at 15th Annual Scholarship Ceremony

July 7th, 2008

Read More

Velocity Credit Union recently held a reception to present its 15th Annual Velocity Credit Union Scholarship Awards. Nine scholarships were awarded to credit union members; three to high school seniors and six to past winners who are continuing in college. To date, Velocity Credit Union has awarded more that $93,000 in scholarships. The Royal G. Wilson Memorial Scholarship was awarded to Carlos Galvan, a graduate of Crockett High School, who plans to attend St. Edward’s University. The Limuel Hunter Scholarship was awarded to Emily Jaso, a graduate of Akins High School, who plans to attend Sam Houston State University. And, Andrew Treckman, a graduate of James Bowie High School who plans to attend Texas A&M, received the Tom Eaton Memorial Scholarship. Six additional students (and past winners) were awarded the Robert Wilder Memorial Scholarships, to assist current college students: Nicolas Arredondo, Kevin Davis, Kasey Ruedas and Jennifer Hewitt, who all attend the University of Texas; Bianco Guerro, Texas Tech University; and Courtney Passow, who will attend Texas A&M this fall. Velocity Credit Union President Debbie Mitchell said, “The Velocity Scholarship Program was created by our board of directors as a way to serve the community, our members, and their families. I’m proud to serve a board that is so invested in giving back to its membership and in helping our young people attain their goals.”
 

Austin Energy renews preferred lender contract with Velocity Credit Union

March 3rd, 2008

Read More

Velocity Credit Union is the approved lender for Austin Energy's Home Performance with Energy Star® program. This program offers substantial rebates or low interest Home Energy Loans to finance many kinds of energy saving home improvements. This can include installing energy efficient air conditioning and heating systems, adding attic insulation, caulking and weather stripping, solar screens and more. Residential customers of Austin Energy who own single family dwellings and duplexes are eligible to apply. To read more about Austin Energy's Home Performance with Energy Star® program and other exciting programs, please visit www.austinenergy.com Austin Energy Solar Water heater Program This program offers substantial rebates or low interest loans to purchase and install Solar Electric Power Systems or Solar Water Heaters. Residential customers of Austin Energy who own single family dwellings or duplexes are eligible to apply. To read more about Austin Energy's Home Performance with Energy Star® program and other exciting programs, please visit www.austinenergy.com.
 

Velocity Credit Union appoints Debbie Mitchell New President; Strong remains as CEO

December 5th, 2007

Read More

A few strategic moves at the top have Velocity Credit Union well-poised for the future. In November, the Velocity Board of Directors voted unanimously to approve CEO Larry Strong’s recommendation to name Debbie Mitchell as its new president. Mitchell is the third paid president and the first female to hold the job at the 60-year-old Austin institution. Larry Strong, CEO, who held the title of CEO/President, will remain as CEO, primarily working with the board of directors and outside agencies. Strong was also recently nominated to the board of directors, and plans to take on that role in 2008. Jack Jordan, formerly senior vice president, was appointed Chief Operating Officer. This succession shift has long been Strong’s plan and recent health issues prompted Strong to put the plan into play. He underwent open heart surgery earlier this year. “Rest assured that I am alive and well, and ornery as ever!” said Strong. “I am looking forward to many more years of service in the credit union movement.” “Mitchell is the right person to lead Velocity in today’s environment. She’s a risk-taker and has managed and directed the operation of this credit union for the past four years,” Strong continued. She has been with Velocity for 23 years and has proven herself to be a strong leader with excellent decision-making skills.” Mitchell, 43, most recently served as Chief Operating Officer, and led the credit union through a re-naming/rebranding campaign, culture change and major branch expansion in recent years. Velocity, founded in 1947, was once known as Austin Metropolitan Financial Credit Union and primarily served city employees. Velocity, which now serves the Austin metropolitan five-county area, has $425 million in assets, 185 employees and more than 84,000 members. Mitchell takes on her new position in the highly competitive Austin market where a new bank branch pops up almost weekly. “One way to stay ahead is by keeping up with the latest technological trends while still providing the friendly, personal service that our members have come to expect from us,” Mitchell said. “We plan to implement online account opening in early 2008 – which means that, if they choose, members will never have to set foot in a branch. “There’s an entire generation out there who doesn’t see the need to walk into our offices,” said Mitchell. “They want to do their banking online or on their smart phone. The challenge is to provide that type of innovation, while still serving other people who prefer personal interaction with a friendly credit union employee.”
 

Velocity Credit Union is the first credit union in Austin to receive the prestigious designation as a “Juntos Avanzamos” credit union

August 8th, 2006

Read More

for its exceptional service to the Hispanic community. The Texas Credit Union League (TCUL) presented Velocity Credit Union with the Juntos Avanzamos – or “Together We Advance” – flag, representing the credit union’s participation in the new TCUL initiative. The program’s goal is to empower Texas credit unions to more effectively serve the needs of the emerging Hispanic market and provide families with an affordable alternative to expensive fringe financial service providers. Texas Credit Union League CEO Dick Ensweiler presented the resolution to Larry Strong, president and CEO, Velocity Credit Union; and Mary Paredes, member, Velocity Credit Union board of directors. Dignitaries in attendance included Consul General Adscrito Hugo Rene Olivia, General Consulate of Mexico and Dr. Juan Hernandez, author and former cabinet member in the President Vincente Fox administration. “Velocity Credit Union began in 1947, and from day one we’ve welcomed Hispanics into our membership,” Strong said. “At Velocity, reaching out to the Hispanic community is not just an ‘initiative,’ it’s how we’ve done business for 59 years.” According to U.S. Census, Texas is now a minority majority state. Texas is also home to the second largest Hispanic population in the United States, representing more than 30 percent of the state’s population. Hispanics represent a largely unbanked population and often pay outrageous fees to cash a check, send money home, or take out a small loan to carry them over to their next paycheck. “A majority of newly immigrated Hispanics don’t get a square deal when using some other financial service providers –I want them to know that here at Velocity, they are treated fairly and with respect. This is our goal, our duty and our responsibility,” Strong continued. About Velocity Credit Union: Velocity Credit Union is a federally insured, state-chartered credit union located in Austin, Texas. Chartered in 1947, the Credit Union serves a diverse field of membership that includes dozens of select employer groups and associations, along with a five-county community service area. The Credit Union has assets of approximately $495 million and serves over 85,000 members.